Kopin (NASDAQ:KOPN) Shares Gap Up – What’s Next?

Kopin Corporation (NASDAQ:KOPN) gapped up before the market opened on Wednesday . The stock had previously closed at $3.76, but opened at $4.20. Kopin shares last traded at $4.2050, with a volume of 1,530,667 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Kopin from $5.50 to $6.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. JonesTrading initiated coverage on shares of Kopin in a research report on Monday, April 27th. They issued a “buy” rating and a $6.00 price objective on the stock. Craig Hallum reaffirmed a “buy” rating and set a $10.00 target price on shares of Kopin in a research note on Tuesday, May 12th. Weiss Ratings upgraded Kopin from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 6th. Finally, Canaccord Genuity Group upped their price objective on Kopin from $5.50 to $6.25 and gave the company a “buy” rating in a research report on Thursday, May 14th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.15.

Kopin Stock Down 12.8%

The business has a 50-day moving average price of $4.78 and a 200-day moving average price of $3.41. The firm has a market capitalization of $674.97 million, a price-to-earnings ratio of 369.37 and a beta of 3.47.

Kopin (NASDAQ:KOPN) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $10.55 million for the quarter, compared to analyst estimates of $9.96 million. Kopin had a return on equity of 4.85% and a net margin of 5.00%. On average, equities research analysts forecast that Kopin Corporation will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Kopin

In related news, COO Paul Christopher Baker sold 116,860 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total value of $461,597.00. Following the completion of the transaction, the chief operating officer directly owned 480,005 shares in the company, valued at $1,896,019.75. The trade was a 19.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 176,840 shares of company stock worth $755,499. 2.60% of the stock is owned by insiders.

Institutional Trading of Kopin

A number of institutional investors and hedge funds have recently made changes to their positions in KOPN. UBS Group AG boosted its position in Kopin by 40.3% during the fourth quarter. UBS Group AG now owns 1,359,380 shares of the company’s stock worth $3,181,000 after acquiring an additional 390,404 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of Kopin by 123.2% in the fourth quarter. DNB Asset Management AS now owns 1,294,368 shares of the company’s stock valued at $3,029,000 after purchasing an additional 714,423 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Kopin during the third quarter worth about $976,000. Telemark Asset Management LLC grew its stake in shares of Kopin by 40.0% in the 4th quarter. Telemark Asset Management LLC now owns 7,000,000 shares of the company’s stock valued at $16,380,000 after buying an additional 2,000,000 shares during the period. Finally, CenterBook Partners LP acquired a new position in Kopin in the fourth quarter valued at approximately $2,925,000. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

Kopin Company Profile

Kopin Corporation (NASDAQ: KOPN) is a technology company specializing in the development and manufacture of high-resolution microdisplays and optical components for wearable electronics. Headquartered in Westborough, Massachusetts, Kopin designs both liquid crystal on silicon (LCOS) and organic light-emitting diode (OLED) microdisplays, as well as complete display engines and optical modules tailored for use in augmented reality (AR), virtual reality (VR), industrial, medical, and defense applications.